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US Small Business Administration Opens SA Office to Help Flood Victims

On Thursday, the U.S. Small Business Administration (SBA) set up their ‘Disaster Loan Outreach Center’ in a temporary office in the San Antonio Central Library.

The SBA is offering low-interest federal disaster loans to Texas residents and business owners affected by the severe weather and flooding that occurred in Bexar County on May 25 to May 27, 2013.

“We know that a loan is not a good fit for everyone but it is a good resource for people who don't have any insurance and any other way to fix their property or get it replaced,” said public information officer for the SBA, Yolanda Stokes.

SBA assistance is available in the following Texas Counties: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina and Wilson.

“Roughly a little less than 300 hundred homes were affected by the floods and approximately 10 businesses were affected,” Stokes said. “We anticipate a pretty good stream of people coming in the next few weeks.”

The Center will run weekdays and officially close July 2, but if needed the SBA will extend their time in San Antonio to make sure everyone wanting to take advantage of a disaster loan is serviced, Stokes said.

“The positive is that it's a low interest disaster loan for homeowners,” she said. “Another benefit is that the payment can be structured such that the term could be up to 30 years.”

A credit check will be done, but no appointment is necessary. For more information click here.